Mackenzie Financial Corp Has $2.37 Million Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Mackenzie Financial Corp grew its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 8.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,414 shares of the financial services provider’s stock after acquiring an additional 815 shares during the quarter. Mackenzie Financial Corp’s holdings in LPL Financial were worth $2,370,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of LPLA. Massachusetts Financial Services Co. MA raised its holdings in LPL Financial by 1,732.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 568,292 shares of the financial services provider’s stock worth $135,055,000 after buying an additional 537,272 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of LPL Financial by 358.2% during the third quarter. Canada Pension Plan Investment Board now owns 456,990 shares of the financial services provider’s stock worth $108,604,000 after acquiring an additional 357,245 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of LPL Financial by 524.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 273,140 shares of the financial services provider’s stock worth $64,912,000 after acquiring an additional 229,434 shares during the last quarter. HM Payson & Co. bought a new position in LPL Financial in the 3rd quarter valued at about $54,406,000. Finally, Markel Group Inc. boosted its stake in LPL Financial by 137.1% during the 3rd quarter. Markel Group Inc. now owns 301,264 shares of the financial services provider’s stock valued at $71,595,000 after purchasing an additional 174,205 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Stock Performance

NASDAQ LPLA opened at $264.29 on Tuesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $19.74 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. LPL Financial Holdings Inc. has a 52-week low of $179.00 and a 52-week high of $274.35. The company has a 50-day simple moving average of $263.14 and a 200 day simple moving average of $241.11.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.18. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.55 billion. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. LPL Financial’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.21 EPS. On average, research analysts predict that LPL Financial Holdings Inc. will post 15.55 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.45%. LPL Financial’s payout ratio is presently 8.79%.

Insider Activity

In related news, CEO Dan H. Arnold sold 10,000 shares of LPL Financial stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the sale, the chief executive officer now owns 137,044 shares of the company’s stock, valued at approximately $35,131,229.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Dan H. Arnold sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the sale, the chief executive officer now directly owns 137,044 shares in the company, valued at approximately $35,131,229.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dan H. Arnold sold 34,807 shares of LPL Financial stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the completion of the transaction, the chief executive officer now owns 141,810 shares of the company’s stock, valued at $37,798,037.40. The disclosure for this sale can be found here. Insiders have sold 60,151 shares of company stock valued at $15,911,088 in the last 90 days. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on LPLA. Raymond James started coverage on LPL Financial in a research note on Thursday, April 4th. They issued an “underperform” rating for the company. TD Cowen increased their price target on LPL Financial from $266.00 to $269.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. lifted their price objective on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Barclays upped their target price on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, JMP Securities raised their price target on shares of LPL Financial from $290.00 to $305.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, LPL Financial currently has an average rating of “Hold” and an average target price of $268.36.

LPL Financial Company Profile

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.